How do I know if my ppi counts as missold?

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I had PPI on a loan and credit card from Egg inearly 2000's. To behonest I don't really recall much about it I believe I was told that the PPI was mandatory and that I had to have it to take out the loan and card.

I also at that time had a preexisting medical condition which wasn't discussed with them. I am now disabled by that condition and unable to work but all my accounts with Egg were closed before this happened and I also have no paper work.

Are these good enough reasons to claim PPI compensation?

How did you know you were due compensation?

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  • Nasqueron
    Nasqueron Posts: 8,998 Forumite
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    betty77 wrote: »
    I had PPI on a loan and credit card from Egg inearly 2000's. To behonest I don't really recall much about it I believe I was told that the PPI was mandatory and that I had to have it to take out the loan and card.


    Egg were largely an online bank, it's unlikely you were "told" anything as most people applied online therefore didn't speak to anyone. There was a period of using pre-ticked boxes (opt-out) but dates for these are already known so unless you know these applications fell in this period it's a moot argument. Even if it was in person, can you prove this?


    betty77 wrote: »
    I also at that time had a preexisting medical condition which wasn't discussed with them. I am now disabled by that condition and unable to work but all my accounts with Egg were closed before this happened and I also have no paper work.

    Are these good enough reasons to claim PPI compensation?




    PPI was largely not an advised sale, they don't need to do a medical check so this would come down to whether the PPI would have covered you anyway (except for that condition) or not - only they can tell you if you complain


    betty77 wrote: »
    How did you know you were due compensation?


    Nobody is due any compensation, you complain and see if they accept you were miss-sold or not. If you were, they refund your money and any applicable interest.



    It's impossible to predict how your complaint would go, they might uphold it automatically due to the value of the complaint, they might reject it if they believe it was not or they have no records left. On a he said / she said argument (such as saying you were told to take it), it comes down to credibility and evidence. They will have a sales script, you have your word, they hold the strong ground there. If your finance was taken out online, claiming you were told to take the PPI will kill your case as it has no credibility. On the other hand if they feel the PPI policy was worthless to you, they may refund. What you might get will also depend on what records they have left of your spending and payments.
  • Placida
    Placida Posts: 240 Forumite
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    betty77 wrote: »
    I had PPI on a loan and credit card from Egg inearly 2000's. To behonest I don't really recall much about it I believe I was told that the PPI was mandatory and that I had to have it to take out the loan and card.

    I also at that time had a preexisting medical condition which wasn't discussed with them. I am now disabled by that condition and unable to work but all my accounts with Egg were closed before this happened and I also have no paper work.

    Are these good enough reasons to claim PPI compensation?

    How did you know you were due compensation?

    Start here “Everything you need to know about PPI and how to claim back money you’ve paid”
    https://www.fca.org.uk/ppi/

    These links might answer your questions.
    https://www.fca.org.uk/ppi/eligible-claim-mis-selling
    or
    https://www.fca.org.uk/publication/ppi/ppi-complaints-end-leaflet.pdf

    If your Egg card was transferred to Barclaycard, see here
    https://www.fca.org.uk/ppi/contact-barclaycard

    If your Egg card or Egg money account was closed before October 2011 or not transferred to Barclaycard, see here
    https://www.fca.org.uk/ppi/contact-citibankcanada-square-operations
  • betty77
    betty77 Posts: 30 Forumite
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    Thank you Placida, your reply was very helpful!
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